Absa and Global Infrastructure Partners mobilise capital for strategic African energy infrastructure

Mobilising institutional capital for African energy infrastructure

Project Glade marks a significant step in that journey. Global Infrastructure Partners (GIP), a part of BlackRock, entered into an agreement to acquire Globeleq from British International Investment and Norfund. The transaction is supported by a USD 888 million senior secured financing package and brings together global institutional capital, specialist infrastructure investment capability and deep African market expertise.

The financing demonstrates how international capital can be connected to strategic infrastructure opportunities across Africa. It also reflects the importance of long-term partnerships between investors, financial institutions and energy businesses in supporting the continent’s future power needs.

Backing a diversified African power platform

Globeleq is a leading power platform with operations across Africa. Its portfolio spans gas-fired generation, renewable power and battery energy storage, providing a diversified base from which to support the development of resilient power systems in multiple markets.

Through the acquisition, GIP gains exposure to an established African energy platform with the capability to operate and grow complex power assets. The transaction supports continued investment in the infrastructure required to strengthen energy security, enable industrial activity and support long-term economic development.

Absa’s role in Project Glade

Absa acted as Joint Lead Arranger and Underwriter on the USD 888 million senior secured financing package. The transaction drew on Absa Corporate and Investment Banking’s experience across Global Power and Infrastructure Finance, Energy Coverage and cross-border financing.

By combining sector knowledge, structuring capability and African market insight, Absa helped connect global institutional capital to a strategic power-sector opportunity on the continent. The transaction also demonstrates the role African financial institutions can play in executing complex international infrastructure financings.

Luke Browne, Head of Resource & Project Finance, International, said:
“The successful conclusion of this acquisition funding showcases Resource and Project Finance’s structuring expertise, delivering an innovative JV financing for strategic African infrastructure assets.”

Supporting resilient power systems and long-term growth

Reliable power infrastructure is fundamental to industrial development, business growth and economic resilience. Investment in diversified generation capacity can help markets respond to rising demand while supporting the transition towards more flexible and sustainable energy systems.

Project Glade reflects the value of partnership in mobilising capital for these priorities. By supporting investment in an established African power platform, the transaction contributes to the financing of infrastructure that underpins energy security and long-term growth across the continent.

The transaction further reinforces Absa’s commitment to connecting capital with opportunities that support Africa’s development. Through sector expertise, financing capability and execution excellence, Absa continues to work with global and regional partners to advance strategic infrastructure investment across African markets.

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